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Biotech / Medical : VD's Model Portfolio & Discussion Thread -- Ignore unavailable to you. Want to Upgrade?

To: biowa who wrote (4632)	4/17/1998 2:56:00 PM
From: Henry Niman	Respond to of 9719

biowa, I have to run, but will post a bit more over the weekend. The "radar screen" list that I put up was an indication of awareness by larger brokerage firms. One of LGND's projected big announcements was the NDA filing, which was delayed and should be announced within the next several weeks. I just received a copy of LGND's new annual report, and things are progressing very nicely on several fronts. Targretin oral is listed as Phase II/III for breast cancer and Panretin has entered two Phase II combination trials (with Tamoxifen) for breast cancer. It looks like an IND for prostate cancer is ready to go (with their anti-androgen) and a mega-deal for using the compound against BPH would not surprise me). As you know, LGND is maturing and the first (of four) NDA may get the attention of some of the firms writing the reports. I do expect new coverage (right now LGND is covered by Bear Stearns, Lehman Brothers, Hambrecht & Quist, and Robertson Stephens) by firms such as Merrill Lynch, Raymond James, Smith Barney, and others. H&Q has put out an estimate of $0.84 for next year. If LGND comes anywhere close to that figure (or another analyst confirms), the price will move very far very fast (the only other estimate thus far for 1999 is Bear Stearns at $0.09).

To: biowa who wrote (4632)	4/18/1998 4:09:00 PM
From: Henry Niman	Read Replies (1) \| Respond to of 9719

LGND's 1997 Annual Report is now out. I have a quick version of the table listing compounds in their pipeline at home.att.net It's quite impressive and color coded showing year by year progress on each compound and application.

To: biowa who wrote (4632)	4/18/1998 10:22:00 PM
From: Henry Niman	Respond to of 9719

I have linked Ligand's Pipeline Timeline to the front page at home.att.net The colors actually vary by browser, but it's pretty easy to see what happened in each year and also easy to see where current efforts are (and future efforts will be) concentrated. The anti-androgen LGD1331 is most interesting. In one section of the table, its development has moved into IND territory suggesting that an announcement will be made soon. The BPH part remained just shy of IND filing, but prostate cancer and hirsutism have "crossed the line". Based on earlier comments by David Molowa (when he initiated coverage), I would expect an IND by LGND for prostate cancer, and an announcement of a new partner for the hirsutism applications.